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Revitalist Company Update Regarding Financial and Share Settlements
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary
Revitalist Lifestyle and Wellness Ltd. (OTCQB: RVLWF) continues to enhance its financial standing and operational strategies. The company has extinguished contracts with High Standard Capital and Tannoy Digital Inc., canceling 424,000 shares and issuing 1,282,051 shares at $0.078 each. Additionally, debts totaling $300,000 CAD were settled with Natasha Collins and Larry Heinzlmeir, involving interest and warrants. This strategic maneuvering aims to strengthen the company's outlook as it operates nine clinics across six U.S. states, focusing on psychedelic medicine.
Positive
Cancellation of 424,000 shares increases financial flexibility.
Settled debts of $300,000 CAD improve overall financial position.
Negative
Issuance of 1,282,051 shares at $0.078 may dilute existing shareholder value.
VANCOUVER, British Columbia--(BUSINESS WIRE)--
REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist” or the “Company”) (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO), Revitalist takes protagonist approach improving financial and share positioning for forward moving growth strategies.
Revitalist continues to take advancements to improve company operations, financial standings, and overall share delineation to improve company outlooks and infrastructure. Revitalist CEO, Kathryn Walker, states, “While we appreciate all opportunities that have been presented to this company since its creation in 2018, we recognize growth is an evolution of relationships and partnerships. We appreciate the efforts of everyone mentioned in this release and wish them the best of luck with their future endeavors.”
Revitalist has extinguished its contract with High Standard Capital by issuing 1,282,051 common shares at $0.078 per share. These shares are subject to the Company’s filing requirements with the CSE and a hold period of four months and a day from the date of issuance.
Revitalist has extinguished its contract with Tannoy Digital Inc. with agreement for Tannoy Digital Inc. to return 424,000 shares due to the inability to complete agreement upon work in their service contract. These shares are being cancelled and returned to treasury.
Revitalist has extinguished its contract with Natasha Collins, Chartered Professional Accountant, with additional agreement to extinguish the debt of $150,000 CAD, including related interest and related warrants, of which 525,000 warrants were issued in a convertible debenture with a payment from Revitalist to Natasha Collins in the amount of $10,000 CAD.
Revitalist has extinguished its contract with Visumello Management and managing director, Larry Heinzlmeir, marketing executive, with additional agreement to extinguish the debt of $150,000 CAD including related interest and related warrants, of which 525,000 warrants were issued in a convertible debenture with a payment from Revitalist to Larry Heinzlmeir in the amount of $10,000 CAD.
About Revitalist Lifestyle and Wellness Ltd.
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO) is one of the largest publicly listed, ketamine focused clinic operations in the United States. Each clinic enables access to psychedelic medicine, vitamin infusions and other lifestyle optimization services provided by medical and behavioral professionals. Since opening their first clinic in 2018, Revitalist has provided thousands of ketamine infusions through its network of 9 clinics operating in 6 states. Its founder and CEO, Kathryn Walker, works as a lead provider in the psychedelic space as an advanced behavioral and medical provider. For additional information please visit Revitalist.com.
On Behalf of the Board
Kathryn Walker
Chief Executive Officer
Forward Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Revitalist to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.
